All Forum Posts by: Zachary Smith

Similarly, I am trading my dad a condo from a condo complex that my wife and I built for his half of the land that we own together and have owned for 12 years.  His half is owned in a trust and he will be taking title of the condo in the same trust.  My wife and I will be paying taxes on the gain from the condo but will he have to pay any gain and do we have to hire a 1031 company since nothing will be held in escrow?  Both deeds will be filed at the same time.  We are getting conflicting opinions from different CPAs.  One says we need to "perform a 1031" the other said that it is essentially a pure exchange and no action is needed for my dad since it is an exchange and no money is changing hands.  Thanks for any help!

I am a Realtor, developer and former mayor of Victor if anyone would like to chat about The Victor or Driggs real estate markets. 

Victor, Idaho is 30 min from Jackson Hole and is pretty affordable comparatively.  I would be happy to help you with any questions.

@Rodica Dragancea

Alliance Title has been good to work with.

I would love to connect.  I have invested in Victor and Idaho Falls and know the investing side pretty well but would welcome a partner on the contracting side.

@Natalie Kolodij is there a way to use these funds in an Eligible Opportunity Zone?

I have a client that bought a primary home for $100K in 1989 and the home is now worth $1 Mil.  They have divorced in that time period and own the house solely now.  They have put about $50K worth of improvements into it over time.  Is there a way to help them save on capital gains above and beyond the $250K Home Sale Tax Exemption?  Is there a way to do a 1031 exchange or something similar that they can do with the remainder of the net gains that they will see after the sale of the home?  Any ideas are appreciated and we will most certainly run those ideas by an attorney and or CPA before implementing.  Thank you!

I can help you out on either side.  I grew up in Jackson and currently live in Victor.  How often will you be using the property and when?

Wy is a non disclosure state so you will see a lot of sales in the MLS posted for $1 because the buyer and seller agreed not to disclose the sales price.

I am a Realtor in Victor, Idaho and would be happy to help you look in Teton Valley if you would like.  I have bought and sold with Becca Nelson in Idaho Falls and she does a great job.  PM me if you would like her contact.